Sales in the third quarter were up 2.2 per cent year-on-year.
South Korea.- Kangwon Land, South Korea’s only casino open to locals, has announced its financial results for the third quarter of 2025. The casino operator posted sales of KRW383.7bn (US$265.5m) for the July-September period, up 2.2 per cent year-on-year, and up 6.4 per cent from the second quarter of the year.
Gaming sales reached KRW333.7bn, up 4.2 per cent year-on-year and ahead of the KRW331.5bn (US$245.3m) reported in Q2. Non-gaming sales were KR50bn (US$34.6m), down 9.4 per cent year-on-year but up compared to the previous quarter.
The company’s gross gaming revenue (GGR) was up 4.2 per cent year-on-year and up 1.9 per cent quarter-on-quarter at KRW368.5bn (US$255m). The company said that the increase in betting limits on selected tables in May 2025 likely contributed to the rise in its table drop volume.
Net profit of KRW112.3bn (US$77.8m) was up 24.1 per cent year-on-year and 83.5 per cent quarter-on-quarter. Operating income was KRW71.9bn (US$49.7m), up 24.2 per cent sequentially but down 22.7 per cent year-on-year.
For the year-to-date period, Kangwon Land reported KRW1.11 trillion (US$767.4m) in sales, a 2.7 per cent growth compared to KRW1.08 trillion (US$745.5m) recorded in the first nine months of 2024.
Sales in the third quarter were up 2.2 per cent year-on-year. South Korea.- Kangwon Land, South Korea’s only casino open to locals, has announced its financial results for the third…
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